Magnolia Group LLC Takes $6.76 Million Position in Lennar Corporation $LEN

Magnolia Group LLC bought a new stake in Lennar Corporation (NYSE:LEN) during the 4th quarter, Holdings Channel reports. The fund bought 71,031 shares of the construction company’s stock, valued at approximately $6,756,000. Lennar makes up 1.1% of Magnolia Group LLC’s holdings, making the stock its 12th largest position.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Lennar by 14.6% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock valued at $596,504,000 after buying an additional 603,004 shares during the period. Viking Global Investors LP raised its holdings in Lennar by 86.7% in the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock worth $279,135,000 after purchasing an additional 1,172,068 shares during the period. Envestnet Asset Management Inc. raised its holdings in Lennar by 7.0% in the third quarter. Envestnet Asset Management Inc. now owns 1,154,892 shares of the construction company’s stock worth $145,563,000 after purchasing an additional 75,574 shares during the period. California Public Employees Retirement System raised its holdings in Lennar by 41.0% in the third quarter. California Public Employees Retirement System now owns 578,927 shares of the construction company’s stock worth $72,968,000 after purchasing an additional 168,196 shares during the period. Finally, Caisse de depot et placement du Quebec raised its holdings in Lennar by 3.7% in the third quarter. Caisse de depot et placement du Quebec now owns 555,305 shares of the construction company’s stock worth $69,991,000 after purchasing an additional 19,566 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

LEN has been the topic of several analyst reports. Wells Fargo & Company cut their target price on shares of Lennar from $100.00 to $90.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 8th. Seaport Research Partners reiterated a “sell” rating and issued a $74.00 target price (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. Argus dropped their price target on Lennar from $140.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Truist Financial dropped their price target on Lennar from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Tuesday, March 31st. Finally, Zacks Research raised Lennar from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and eight have given a Sell rating to the company. According to MarketBeat, Lennar currently has a consensus rating of “Reduce” and a consensus price target of $99.87.

Lennar Trading Up 0.7%

Shares of NYSE:LEN opened at $88.32 on Friday. Lennar Corporation has a 12 month low of $83.03 and a 12 month high of $144.24. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18. The company’s fifty day simple moving average is $94.02 and its 200 day simple moving average is $109.47. The firm has a market cap of $21.81 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 1.94 and a beta of 1.41.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). Lennar had a return on equity of 7.80% and a net margin of 5.39%.The company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the previous year, the business earned $2.14 earnings per share. The company’s revenue was down 13.3% on a year-over-year basis. As a group, research analysts forecast that Lennar Corporation will post 5.87 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, April 22nd. Lennar’s dividend payout ratio (DPR) is currently 28.74%.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.